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ADR holders administration FAQ

Q When and where was BT Group incorporated and where was its stock traded?

A BT Group was incorporated in the UK on March 30, 2001 as Newgate Telecommunications Ltd. The company changed its name to BT Group plc on September 11, 2001. Following the demerger of mm02 from BT in November 2001, the remaining activities of BT were transferred to BT Group. BT Group's stock commenced trading on the London and New York stock exchanges on November 19, 2001.

Prior to this British Telecommunications plc had been incorporated in April 1984 in the UK. It was formerly owned by the UK Government, but between 1984 and 1993 virtually all the shares were sold to the public. BT shares ceased trading on the London, New York and Tokyo stock exchanges on 16 November 2001.
 
Q What are BT Group's ticker symbol and Cusip number?

A The ticker symbol is BT. The Cusip number is BT Group plc Cusip 05577E101. 
  
Q Where can I get a copy of the BT Group's Annual Report and Form 20-F?

A JP Morgan Chase Bank will be pleased to send you a copy.  Alternatively, you can view the Annual Report and Form 20-F here.  Further financial reports are available at Financial reports.
 
Q How can I obtain information about BT Group corporate actions, including dividends and proxies?

A Up-to-date information about BT is published on this site at BT News. For specific information about your shareholding, please contact JP Morgan Chase Bank.

Q Why does it seem to take so long to receive my BT Group proxy materials from my broker?

A JP Morgan Chase Bank (and other depositaries) distribute proxy materials to brokers who request copies on behalf of their clients. These brokers then forward their proxy materials to the ADS holders. Due to the many intermediaries who are sometimes involved in the process, there may be delays. 

Q A BT Group ADR holder has died; what procedure should I follow?

A Please contact JP Morgan Chase Bank. You will normally have to produce a letter of instruction from the personal representative and other documentation.

Q What information is available for blind and partially-sighted ADR holders?

A BT Group produces regular CDs each year for the benefit of blind and partially-sighted shareholders and ADR holders. In June, a CD is available of extracts from the Summary financial statement & notice of meeting. If you wish to add your name and address to the mailing list for the CDs, please contact Equiniti in the UK.

Q When and where was BT Group incorporated and where were its shares traded?

A BT Group was incorporated in the UK in March 30, 2001 as Newgate Telecommunications Limited.  The company changed its name to BT Group plc on 11 September 2001.  Following the demerger of mm02 from BT in November 2001, the remaining activities of BT were transferred to BT Group plc.  BT Group shares started trading on the London and New York Stock Exchanges on 19 November 2001.

Q What is my tax basis for the mm02 ADRs and the BT Group ADRs which I hold after the scheme of arrangement (the 'Scheme') and the demerger of mm02 (the 'Demerger')?

A Your aggregate tax basis for the mm02 ADRs and the BT Group ADRs is the same as your tax basis for your BT ADRs held immediately before the Scheme and the Demerger. This total basis for your old BT ADRs is allocated between the mm02 ADRs and the BT Group ADRs based upon their respective fair market values immediately after the Demerger.

On November 19, 2001 (the date trading in BT Group ADRs and mm02 ADRs commenced on the NYSE), the fair market value of each BT Group ADS was £41.60, and the fair market value of each mm02 ADS was £12.01.

Based on the respective fair market values of BT Group ADSs and mm02 ADSs on November 19, 2001, you must allocate 77.60% of your tax basis for your old BT ADSs to your BT Group ADSs and 22.40% of your tax basis for your old BT ADSs to your mm02 ADSs.
The figures quoted above are based on final and adjusted official trading prices of the BT Group ADSs and the mm02 ADSs on November 19,2001.

Example: The application of this allocation between your BT Group ADSs and your mm02 ADSs is illustrated by the following example. Assume that you were the beneficial owner of ten BT ADSs for two years before the Demerger.

Assume further that your basis for each of your ten BT ADSs is $50. Your total basis for the ten BT ADSs is $500. On November 19, 2001, you held ten BT Group ADSs and ten mm02 ADSs. Your existing $500 tax basis for your BT ADSs must be allocated between your BT Group ADSs and your mm02 ADSs bases on their respective fair market values. As a result, $388.00 would be allocated to and be your tax basis for your BT Group ADSs and $112.00 would be allocated to and be your tax basis for your mm02 ADSs.

For US Holders of BT Ordinary Shares: On November 19, 2001 (the date trading in BT Group Ordinary Shares and mm02 Ordinary Shares commenced on the London Stock Exchange), the fair market value of each BT Group Ordinary Share was £2.83, and the fair market value of each mm02 Ordinary Share was £0.82.

Based on the respective fair market values of BT Group Ordinary Shares and mm02 Ordinary Shares on November 19, 2001, you must allocate 77.53% of your tax basis for your old BT Ordinary Shares to your BT Group Ordinary Shares and 22.47% of your tax basis for your old BT Ordinary Shares to your mm02 Ordinary Shares.

The figures quoted above are based on final and adjusted official trading prices of the BT Group Ordinary Shares and the mm02 Ordinary Shares on November 19, 2001.

If you are in doubt as to your tax position you should consult an independent professional adviser.